Chief Judge Sweeney entered her opinion yesterday granting the government’s motion to dismiss Owl Creek and other Jones Day clients’ complaints because, she says, the Court of Federal Claims lacks jurisdiction to entertain the investors’ fiduciary duty and implied-in-fact contract claims and they lack standing to pursue any of their claims. At page 20 Chief Judge Sweeney explains neither HERA nor the PSPAs create any duties to shareholders and at page 25 she explains shareholders aren’t beneficiaries to any agreements among FHFA and the GSEs. A copy of the opinion is attached to this e-mail message.
The Fisher and Reid Plaintiffs made their final pitch to Chief Judge Sweeney yesterday asking her to certify her May 8 decision for separate review of these two questions by the Federal Circuit:
(x) whether plaintiffs have standing to assert derivative claims notwithstanding HERA’s succession clause; and
(y) whether the FHFA-C’s actions are attributable to the United States such that the court possesses subject-matter jurisdiction to entertain plaintiffs’ derivative takings and illegal exaction claims;
and a copy of the shareholders’ filing is attached to this e-mail message.